Stocks lack fuel to go higher

The local stock market on Wednesday went up a little higher amid several factors that may have been keeping it from climbing further, even if the Dow Jones added 100 points overnight in response to the expectation the Federal Reserve will continue its economic stimulus program.

The Philippine Stock Exchange index (PSEi) sustained its modest uptrend and rose by 0.82 percent on Wednesday, or 53.75 points to end at 6,597.21, while the broader all-shares barometer went up by 0.39 percent, or 15.64 points to 3,977.43.